https://www.taxtmi.com/caselaws?id=330322 The High Court dismissed the appeal, ruling in favor of the assessee regarding the treatment of interest income in the profits of a 100% Export Oriented Undertaking (EOU) under Section 10B of the Income Tax Act, 1961. The Court emphasized that interest income should be included in the profits of the business for deduction eligibility, rejecting the application of Section 80HHC which excludes interest income. The decision was supported by statutory provisions and case law, upholding the treatment of interest income as part of the EOU's profits eligible for deduction under Section 10B. en-us Thu, 30 Jun 2016 00:00:00 +0530 Mon, 01 Jun 2026 14:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330322 The High Court dismissed the appeal, ruling in favor of the assessee regarding the treatment of interest income in the profits of a 100% Export Oriented Undertaking (EOU) under Section 10B of the Income Tax Act, 1961. The Court emphasized that interest income should be included in the profits of the business for deduction eligibility, rejecting the application of Section 80HHC which excludes interest income. The decision was supported by statutory provisions and case law, upholding the treatment of interest income as part of the EOU's profits eligible for deduction under Section 10B. Case-Laws Income Tax Thu, 30 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330322